News

du Considers Adding Crypto & Investment Tools To New Service

The company plans to bridge gaps in one of the financial market’s most underserved demographics, according to its CEO.

Published

1 year ago

April 23, 2024

du considers adding crypto and investment tools to new service

The Emirates Integrated Telecommunications Company, better known as Dubai-based du, is contemplating incorporating cryptocurrency and investment tools into its recently launched financial technology platform, according to CEO Nicolas Levi.

According to Levi, the potential enhancements would enable improved portfolio management for investors. The new tools and features would be realized through future partnerships while continuing to adhere to strict UAE regulations.

“Cryptocurrencies are being used as an investment. Will we have an investment product one day potentially? I’m not saying no to that. Will we use crypto for our own transactions? There are some plans with the [UAE] central bank to work on that,” Levi said in a recent interview.

The UAE Central Bank does not currently recognize cryptocurrencies as legal tender. However, the regulator began implementing its own form of digital currency back in March 2023, known as Digital Dirham. Additionally, the UAE Central Bank’s endorsement of legitimate crypto enterprises for banking services underscores the Emirates’ commitment to addressing real-world financial needs.

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du Pay, the company’s inaugural venture into the FinTech sector, had a soft launch earlier this month after UAE Central Bank authorization. Offering an array of financial services like domestic and international transfers, bill payments, recharges, and salary receipts through a unique IBAN, du Pay marks a significant strategic move by the telecom firm into the digital finance space.

The rising trend of mobile-based financial services in the UAE, including digital wallets and online payments, mirrors global trends. Statista projects the digital payments market to balloon to $16.7 trillion by 2028, at a CAGR exceeding 9.5% from 2024’s estimated $11.53 trillion.

News

UAE’s Etihad Rail Launches In 2026 — What You Need To Know

A 1,200 km passenger network will transform public transport, with 11 connected cities, and high-speed trains cutting inter-emirate travel times.

Published

1 day ago

May 19, 2025

Nour Nasir

Etihad Rail

Etihad Rail has confirmed that its long-anticipated passenger train service will officially launch in 2026, ushering in a new era of high-speed, inter-emirate travel. The UAE’s national railway developer shared the announcement on X (formerly Twitter), as work continues on a 1,200 km passenger network set to connect 11 cities across all seven emirates.

The news marks a major leap in public transportation for the country, with passenger trains designed to reach speeds of up to 200 km/h. Travel times will be significantly reduced — Abu Dhabi to Dubai is expected to take just under an hour, while the journey to Fujairah will be cut to around 105 minutes. A separate high-speed line, capable of reaching 350 km/h, is also in the works to link Abu Dhabi and Dubai in just 30 minutes.

The backbone of the network was completed in 2023, when Etihad Rail launched its 900 km freight service linking key industrial and logistics hubs across the UAE, including ports in Abu Dhabi, Dubai, and Fujairah. Now, the focus has shifted to passenger infrastructure.

The first station will be located in Sakamkam, Fujairah city centre, and a second is confirmed near University City in Sharjah. Dubai’s main station is expected to be adjacent to Jumeirah Golf Estates Metro Station, while Abu Dhabi’s is anticipated along the corridor separating Mussafah Industrial Area and Mohammed Bin Zayed City.

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Once completed, the passenger network will link cities including Al Sila, Al Ruwais, Al Mirfa, Dubai, Sharjah, Al Dhaid, Abu Dhabi, Ras Al Khaimah and Fujairah. Integration with Oman is also part of the long-term vision. A new cross-border project — Hafeet Rail — will span 303 km between Sohar and Abu Dhabi’s Al Wathba area. Developed by Etihad Rail in collaboration with Oman Rail and Mubadala, the link is expected to deepen trade and tourism ties between the two countries.

Etihad Rail’s passenger trains will carry up to 400 passengers each and feature Wi-Fi, entertainment systems, charging points, and onboard food and beverage options to ensure a comfortable experience. To further simplify access, passengers will be able to pay with their nol cards, thanks to a partnership between Etihad Rail and Dubai’s Roads and Transport Authority (RTA). The collaboration aims to integrate fare payments and booking systems under one unified platform.